It’s time for your Daily Hit for the financial cannabis news for December 5, 2018.

The stock and bond markets were closed in honor of the funeral for former President George H.W. Bush.

On The Site

Illegal Grows

When a company is caught growing cannabis illegally, it’s often the landlord who’s left to clean up the mess. The criminals rarely come back for their equipment and the police want nothing to do with it either.

So, the landlord is confronted with clearing out sometimes hundreds of sophisticated, expensive lights, watering systems, and other various cultivation items in order to get the space back to rent. Metal scrapper and the owner of CH Hydroponics James Robba stumbled into the market when he was asked to disassemble a huge illegal grow.

In Other News

MedMen

MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) completed its previously-announced bought deal of 13,640,000 units at a price of C$5.50 per unit for aggregate gross proceeds of C$75,020,000. MedMen stock closed down 18% to C$3.40 despite the news. The net proceeds from the offering will be used for expansion of the Company’s retail network, development of cultivation and production factories, to fund operating cash flow and for general corporate and other working capital purposes. The company also opened its first store in Arizona.

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Masters degree in Business Journalism from New York University.

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis